Liquefied Natural Gas Limited has dumped plans for an LNG project at Fisherman’s Landing, Gladstone.
Following a review of its asset portfolio, the company announced today that it had decided to no longer fund the costs associated with maintaining the project at the Port of Gladstone and to exit the project.
The company is completing efforts to relinquish the site to the Gladstone Ports Corporation (GPC) and notify other relevant regulators.
“The closure of the Fisherman’s Landing LNG Project was not an easy decision by the company,” managing director and chief executive officer of LNGL Greg Vesey said.
“However, after many years without success in securing the long-term economic gas supply that would be needed to proceed with project construction, we made a strategic decision to close the project.” Mr Vesey continued “We are grateful to the GPC and the Queensland Government for their support of the FLLNG Project over the last several years”.